AustraliaBreaking News

Bob Michele, JPMorgan Asset Management Global Head of Fixed Income, joins Bloomberg Surveillance to discuss current macroeconomic conditions amid the backdrop of the Iran war, as Federal Reserve officials voice growing concern over potential fallout. "At these levels, there's no obvious solution," Michele says, adding that even amid oil hitting $100 a barrel, "We don't see recession, we see growth slowing down a lot from where we had it, inflation going up a little bit," putting the Fed back in wait-and-see mode. Meanwhile, three Fed officials on Thursday expressed growing anxiety over the US economic outlook due to the war in the Middle East, with one policymaker saying the spike in oil prices had shifted the balance of risks for now, leaving inflation as a bigger concern than employment. Michele speaks with Tom Keene and Paul Sweeney.

The University of Michigan's final March consumer sentiment index fell to 53.3 from a preliminary reading of 55.5, according to a report released Friday. The survey period includes responses from Feb. 17 to March 23, with about two-thirds of those collected after the Iran war began. Mike McKee reports on "Bloomberg Open Interest."

Geopolitical risks are rising as the Iran conflict threatens global markets. Bloomberg economist Stuart Paul and Marko Papic of BCA join Bloomberg Open Interest to break down the scenarios, including "kinetic equilibrium" where tensions persist but oil keeps flowing. Meanwhile, higher energy prices are hitting consumers and slowing growth, with China emerging as a key player in shaping the outcome.

Anthropic PBC is considering going public as soon as in October, according to people familiar with the matter, as the artificial intelligence company races with rival OpenAI Inc. to hold an initial public offering. Ed Ludlow of Bloomberg Tech reports.

On this episode of Stock Movers: Unity Software (U) rose on a strong earnings forecast and news that it plans to sell its video-game publisher and close its advertising unit to focus on better business. Absolut owner Pernod-Ricard (RI FP) and Jack Daniel's maker Brown-Forman (BF/B) both rose on the news of a potential merger between France's largest alcohol producer and a top producer of American whisky. The companies are describing it as a 'merger of equals.'

On this episode of Stock Movers: Unity Software (U) rose on a strong earnings forecast and news that it plans to sell its video-game publisher and close its advertising unit to focus on better business. Absolut owner Pernod-Ricard (RI FP) and Jack Daniel's maker Brown-Foreman (BF/B) both rose on the news of a potential merger between France's largest alcohol producer and a top producer of American whisky. The companies are describing it as a 'merger of equals.'

Angola is tapping Eurobond markets as strong oil prices and improving macro fundamentals create an opportunity to boost external buffers. Finance Minister Vera Daves de Sousa speaks to Bloomberg's Jennifer Zabasajja.

Bob Michele, global head of fixed income at JPMorgan Asset Management, says, 'let the markets go wherever they're going," as he discusses the impact of the war in Iran and the prospect of inflation on the bond market.

"There really aren't any hedges in this context," says Russ Koesterich, Global Allocation Fund portfolio manager at BlackRock, as he explains how the firm is bringing down risk in the current market environment.

French Foreign Affairs Ministry Spokesperson Pascal Confavreux speaks to Bloomberg's Oliver Crook as the G-7 gather in France, with Rubio in attendance to sell the Iran war to skeptical allies.

Pernod Ricard and Brown-Forman are discussing a merger to consolidate amid an industry downturn. A combination would bring together Pernod's brands like Martell Cognac and Absolut Vodka with Brown-Forman's whiskeys such as Jack Daniel's and other brands including Fords Gin and Herradura tequila. Bloomberg's Manuel Baigorri reports.

Lizzy Burden, Tom Mackenzie and Paul Dobson break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade."